Norinchukin Bank The Raises Stake in CDW Corporation $CDW

Key Points

• Norinchukin Bank The increased its holdings in CDW Corporation by 43.4%, purchasing an additional 3,199 shares, bringing its total to 10,563 shares valued at approximately $1,693,000.
• Various institutional investors, including Price T Rowe Associates Inc. MD, significantly boosted their positions in CDW, with Price T Rowe increasing its holdings by 444.6% in the first quarter alone.
• CDW announced a quarterly dividend of $0.625, set to be paid on September 10th, contributing to a 1.5% dividend yield based on its annualized dividend payout.

Norinchukin Bank The lifted its holdings in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 43.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,563 shares of the information technology services provider's stock after acquiring an additional 3,199 shares during the period. Norinchukin Bank The's holdings in CDW were worth $1,693,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CDW. Vanguard Group Inc. grew its position in shares of CDW by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 16,746,334 shares of the information technology services provider's stock valued at $2,683,767,000 after acquiring an additional 72,550 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of CDW by 15.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,792,934 shares of the information technology services provider's stock valued at $447,596,000 after buying an additional 378,841 shares in the last quarter. Invesco Ltd. lifted its stake in CDW by 1.9% in the 1st quarter. Invesco Ltd. now owns 2,471,963 shares of the information technology services provider's stock worth $396,157,000 after purchasing an additional 45,217 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its stake in CDW by 906.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,024,887 shares of the information technology services provider's stock worth $352,411,000 after purchasing an additional 1,823,788 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in CDW by 444.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,632,119 shares of the information technology services provider's stock worth $261,564,000 after purchasing an additional 1,332,454 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CDW has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on shares of CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Citigroup lifted their target price on shares of CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. UBS Group decreased their target price on shares of CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Finally, Barclays cut their price target on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $202.00.

CDW Trading Up 1.0%

CDW stock traded up $1.56 during trading hours on Wednesday, reaching $165.23. The stock had a trading volume of 1,340,386 shares, compared to its average volume of 1,321,886. The stock has a market cap of $21.66 billion, a PE ratio of 20.53, a PEG ratio of 2.77 and a beta of 0.95. CDW Corporation has a 52 week low of $137.31 and a 52 week high of $230.86. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.35 and a quick ratio of 1.22. The company has a fifty day simple moving average of $173.73 and a 200-day simple moving average of $172.13.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share for the quarter, beating analysts' consensus estimates of $2.49 by $0.11. The firm had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.51 billion. CDW had a net margin of 4.92% and a return on equity of 53.63%. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.50 EPS. Analysts forecast that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.5%. CDW's payout ratio is presently 31.06%.

About CDW

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.